I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
Nicole Anastasia Plumlee is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
I stopped listening and taking financial advise from these TH-camrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
That was his point. If you make decisions separately you can arbitrage it and extract money from people. Hence his example of one company with two offices making decisions independently, but put together is the worse decision.
Another point, regarding the Alignment issue. Why would we want LLMs to copy what humans do, including their mistakes. Just because humans accept a 40% offer on average doesn't make this the mathematically optimal number (I have no idea what the optimal number is). Humans are flawed... I don't want an AI advisor to intentially mimic those flaws, I'd want it to do a better job than a human, if possible. The video seems to suggest that by mimicing humans (Or aligning) that they would meet their fiduciary duty, which indirectly implies that if they gave better advice than a human advisor typically would then they would not be meeting the fiduciary duty criteria. I'm not convinced by this argument... and even if it is true then it implies that the rules/criteria are the problem. We shouldn't make systems that meet the flawed criteria, but rather should update the criteria for the modern AI age.
@@yamonflamon They are "What if?" multivariate simulations of alternate scenarios of a future outcome. They use a normal or variations of a normal distribution of variable values with some stochastic scatter to the inputs. Gives you a better idea of the most likely outcome of a complex future event. That is a non-mathematicians description best to get another answer or two.
Fiduciary duty is a bit different. It is more an inverse rule that says the FR can choose an investment that optimizes his/her outcome as long as the client is not worse off by the choice. This is a big problem in the industry as the fiduciary is in the client math.
My retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "KRISTIN AMBER LANDIS" I've worked with her for 6 years and highly recommend her. Check if she meets your criteria.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Sophia Maurine Lanting for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
He said we learn on the playground "do unto others as others do unto you".... I really hope this is not what people are learning! We are supposed to learn to do unto others as we would have others do unto us
Or an alternate version of the Golden Rule: "Do unto others as they would wish to be done unto". That is from some science fiction book I read recently.
@15min6sec. Does this mean we are going to use LLM and make them as selfish and human behavior? They will understand greed, fear, optimism and more feeling and make decisions based on that. Computers can take irrational decisions if they experience these human traits and will fight for its survival anyway possible to eliminate existential threats one way or the other.
The expected value of option D (-1 M at a chance of 75%, 0 otherwise) is 750,000 not 760,000. There are many other mistakes on that same slide. Option A is 240k @ 100%, not at 25%. Option B is not "250k @ 25%". It's "1M @ 25%". The expected value of A + D vs. that of B + C is not 10 k "for sure". You could be lucky or unlucky in both cases. Sounds like he had the same stats professor as Andrew Huberman (whom I generally admire).
I wonder(I don't know) if LLMs can be taught to understand what to do for their clients when there are changes to things like tax codes and laws which they haven't been "trained" on.
@@funguy1086 With any stock trade, one side wins, because it buys a security that increases in price, or because it sells one that declines. The other side loses by the same amount. Assume all retail investors get ChatGPT to trade for them and all investment decisions made as a result are good: who loses?
Someone buys a stock for$20, sells it at $100, and that person sells it as $150, and the next one sells it for $200. It then goes down to $20. 3 made money and 1 lost.
I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far
There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management
That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.
Nicole Anastasia Plumlee is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
I stopped listening and taking financial advise from these TH-camrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@MathewOliver486 Oh please I’d love that. Thanks!.
@@Lourd-Bab Clementina Abate Russo is her name.
Lookup with her name on the webpage.
Let me save u some time - jus go to the last minute!
I’m so glad I didn’t watch it lol
Thank you.
Proffessor Andrew Lo. From MIT Boston 2008. Finance Class❤❤❤❤❤❤❤
being using ChatGPT to solve financial problems for over a year and is fairly accurate..
Not sure if this was made clear, but I was choosing between A/B and C/D independently, not together.
That was his point. If you make decisions separately you can arbitrage it and extract money from people. Hence his example of one company with two offices making decisions independently, but put together is the worse decision.
Another point, regarding the Alignment issue. Why would we want LLMs to copy what humans do, including their mistakes. Just because humans accept a 40% offer on average doesn't make this the mathematically optimal number (I have no idea what the optimal number is). Humans are flawed... I don't want an AI advisor to intentially mimic those flaws, I'd want it to do a better job than a human, if possible.
The video seems to suggest that by mimicing humans (Or aligning) that they would meet their fiduciary duty, which indirectly implies that if they gave better advice than a human advisor typically would then they would not be meeting the fiduciary duty criteria. I'm not convinced by this argument... and even if it is true then it implies that the rules/criteria are the problem. We shouldn't make systems that meet the flawed criteria, but rather should update the criteria for the modern AI age.
I run Monte Carlo simulations on Claude, ChatGPT, and other AI platforms. They are really good.
What are Monte Carlo simulations?
I run double ANOVA and monte Carlo’s.
@@yamonflamon They are "What if?" multivariate simulations of alternate scenarios of a future outcome. They use a normal or variations of a normal distribution of variable values with some stochastic scatter to the inputs. Gives you a better idea of the most likely outcome of a complex future event. That is a non-mathematicians description best to get another answer or two.
Fiduciary duty is a bit different. It is more an inverse rule that says the FR can choose an investment that optimizes his/her outcome as long as the client is not worse off by the choice. This is a big problem in the industry as the fiduciary is in the client math.
I just copy Nancy pelosi
Lol 😂😂
That’s a 100% certainty decision.
ChatGPT and AI are game changers. Hello, new world!
My retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate peace? I don’t want to fail after 22 years of working hard.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $30k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "KRISTIN AMBER LANDIS" I've worked with her for 6 years and highly recommend her. Check if she meets your criteria.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Pls how can I reach this expert, I need someone to help me manage my portfolio.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Sophia Maurine Lanting for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up on web, and I have sent her an email. I hope she gets back to me soon.
He said we learn on the playground "do unto others as others do unto you".... I really hope this is not what people are learning! We are supposed to learn to do unto others as we would have others do unto us
Or an alternate version of the Golden Rule: "Do unto others as they would wish to be done unto". That is from some science fiction book I read recently.
Stonks!
@15min6sec. Does this mean we are going to use LLM and make them as selfish and human behavior? They will understand greed, fear, optimism and more feeling and make decisions based on that. Computers can take irrational decisions if they experience these human traits and will fight for its survival anyway possible to eliminate existential threats one way or the other.
The expected value of option D (-1 M at a chance of 75%, 0 otherwise) is 750,000 not 760,000.
There are many other mistakes on that same slide. Option A is 240k @ 100%, not at 25%. Option B is not "250k @ 25%". It's "1M @ 25%".
The expected value of A + D vs. that of B + C is not 10 k "for sure". You could be lucky or unlucky in both cases.
Sounds like he had the same stats professor as Andrew Huberman (whom I generally admire).
I wonder(I don't know) if LLMs can be taught to understand what to do for their clients when there are changes to things like tax codes and laws which they haven't been "trained" on.
Dude. Do you really think that you read and comprehend faster than computer? 😂
Fantastic talk!
What did you learn?
Yeah - good old word salad 😅
He sounds like Christopher Walken
" those who have the gold usually make the rules"
The golden rule? How much gold does the 99% own? Funny how this question is never answered.
Haha if you are a multimillionaire pick B, if you make 50k/y pick A, that simple. Keep in mind you can have “bad luck” and get zero 7 years in a row
Entertaining, but for someone to make money in the stock market, someone has to lose money in the stock market.
What?
@@funguy1086 With any stock trade, one side wins, because it buys a security that increases in price, or because it sells one that declines. The other side loses by the same amount. Assume all retail investors get ChatGPT to trade for them and all investment decisions made as a result are good: who loses?
Let's bring it back to economics 101. This is false.
Someone buys a stock for$20, sells it at $100, and that person sells it as $150, and the next one sells it for $200.
It then goes down to $20.
3 made money and 1 lost.
@obcane3072 some companies will indeed fail. This is why it makes sense to invest in index funds over a long period of time.